We are trying to make the Binance SQUARE Platform more valuable and attentive for you. Here are the details of our news;
According to Van de Poppe, major altcoins have lost more than 40% in the last two weeks. This decline demoralized many investors and caused serious anxiety in the market. The analyst noted that altcoins are highly sensitive to Bitcoin price movements and the impact of Bitcoin dominance on altcoins is significant. He predicted that any increase in Bitcoin dominance could signal a new altcoin rally, as he thinks altcoins could gain value as Bitcoin gains more control over the market overall.
Uncertainty About Spot Ethereum ETFs
According to Van de Poppe, one of the major reasons for the current market decline is the uncertainty around spot Ethereum ETFs in the US. Although approved by the SEC, these ETFs have not yet been launched, creating confusion among market participants and negatively impacting market sentiment. When explaining why the listing of ETFs was delayed, Michaël emphasized that this process involves issues such as technical details and SEC compliance.
This uncertainty and listing delay has created downward pressure on the market. Van de Poppe notes that if spot Ethereum ETFs are listed, Ethereum could be classified as a classical asset like Bitcoin. This classification could allow for increased institutional investment in Ethereum and broader acceptance of Ethereum alongside other cryptocurrencies. The launch of spot Ethereum ETFs could present new opportunities for investors and change the outlook for the broader market.
Macroeconomic Factors and Market Effects
Michaël van de Poppe stated that macroeconomic factors also play an important role in the cryptocurrency market. In particular, lower-than-expected US inflation data was thought to indicate a possible pause in the Fed's interest rate hikes. However, the Fed's tightening stance and uncertainty continue. Michaël emphasized that altcoins perform better in low interest rates and high liquidity environments. He said the pressure on altcoins has increased as current market conditions lack such an environment.
He also added that the strengthening dollar with the recent interest rate cuts by the European Central Bank (ECB) also puts additional pressure on the cryptocurrency market. A strong dollar could cause investors to move away from cryptocurrencies and towards more traditional financial assets. This situation negatively affects the performance of altcoins and the cryptocurrency market in general.
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So who will benefit?
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I EXPLAIN IN DETAIL.
My brothers and sisters who have become a Binance member without reference, please listen carefully;
When you do what I say, you will receive 10 USDT.
Enter the Futures Section from your application,
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WHEN WILL THE AWARD COME?
Your 10 dollar reward will arrive in the REWARDS section of your Binance application within 30 days, starting from May 1st. By activating it from there, you can use your reward of 10 dollars, or more than 300 liras, in futures transactions.
You can help your friends in need by sharing this post.
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